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May 18, 2012, 08.00 PM IST
Hindalco Industries has target around Rs 180, says Aashish Tater, Head of Research, Fort Share Broking.
Tater told CNBC-TV18, "The basic issue with Hindalco is that globally companies in the aluminum space have been cutting down productions. Now our estimate is that by next quarter what will happen, companies in China would actually fall short because of Indonesia raising the import prices because of taxes."
He further added, "There will be a demand-supply mismatch and which will actually have a very positive trigger on companies because bauxite itself will contribute very high to the cost and will force even Chinese operations to shut down. So eventually by the end of Q2 what will happen there will be higher demand than supply equation and right now we are working with a higher (please check the sentence) supplies and demand equation. So things are going to reverse out and that’s why we have come out with a very bullish report on Hindalco for a target of close to Rs 155 to Rs 180 in a short span of time of next 6 months because of this positive development, which have been gone unnoticed by large players."
May 22 2013, 13:11
- in MARKET OUTLOOK
May 22 2013, 10:44
- in Economy